ByteDance reached out to investors in recent weeks, offering a price of $180.70 per share, the people said. The current offer price is an increase of 12.9% from the per share price of $160 in their last buy back program. ByteDance did not have any IPO plan in sight, one of the sources said, adding that the buyback program is a way to provide Bytedance with liquidity. ByteDance had been planning to carry out the buyback program regardless of the outcome of the U.S. presidential election, another source said, declining to be identified. TikTok and ByteDance sued in U.S. federal court in May, seeking to block the law signed by Biden.

Source: Mint November 17, 2024 16:18 UTC